Veris Residential, Inc. (NYSE:VRE) Stock Position Boosted by Amundi

Amundi raised its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 43.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,250 shares of the company’s stock after buying an additional 24,570 shares during the period. Amundi owned approximately 0.09% of Veris Residential worth $1,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRE. Cornerstone Investment Partners LLC bought a new position in shares of Veris Residential in the fourth quarter valued at approximately $184,000. Natixis Advisors LLC bought a new position in Veris Residential during the 3rd quarter valued at $203,000. Van ECK Associates Corp increased its position in shares of Veris Residential by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock valued at $247,000 after purchasing an additional 1,378 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Veris Residential in the 3rd quarter worth $263,000. Finally, Tidal Investments LLC acquired a new stake in shares of Veris Residential in the third quarter valued at $397,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Down 1.8 %

Shares of Veris Residential stock opened at $16.18 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85. The firm has a market capitalization of $1.50 billion, a PE ratio of -95.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The stock’s fifty day moving average is $16.06 and its 200-day moving average is $16.94.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The company had revenue of $68.08 million for the quarter, compared to analyst estimates of $66.98 million. Equities analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, March 31st. Veris Residential’s dividend payout ratio is -133.33%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on Veris Residential from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Evercore ISI restated an “in-line” rating and set a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th.

About Veris Residential

Veris Residential, Inc is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today’s residents while seeking to positively impact the communities it serves and the planet at large.